The three imperatives of the Indian R&D are Packaging, Marketing & Selling. The rule of the hour is Market or Perish. Increased competition & sophistication of customers' requirement followed closely by technological advancement, have forced the R&D organizations in the country to rethink their approach. Moreoever, it has been rightly said "If you are not market savvy these days, you are out of the market."
Despite the best technology on vaccines, drugs or polymers, to name a few, Indian R&D organizations' efforts have been botched on an international scale. Undoubtedly they are rich in scientific expertise,and possess sufficient potential for knowledge creation, but they need orientation for market savoir-faire and competitiveness. These organizations are yet to create a high brand equity in the global scenario. As Knowledge Process Outsourcing (KPOs) flourish, it is essential for our desiR&D organizations to realize that even the best of the ideas need to be attractively packaged and sold.Simply creation of knowledge is not the end...marketing of knowledge is equally important.
The modern market forces have changed the role of R&D from a isolated function to a more integrated one in the product development process. This facelift changed the emphasis from technology push to market pull and makes R&D a strategic issue that demands apposite alignment with all other components of corporate strategy. Post liberalized India has witnessed free foreign entries and investments resulting in superior quality of products (automobiles /electronics, etc). Therefore, there is an urgent need to take more initiative and increase brand value of Indian R&D institutions.Scientists should make wider use of ICTs, create suitable websites and modernize the technology itself. Despite the strong presence in NASA and renowned companies like Microsoft / IBM, India continues to lag behind in the field of inventions. Knowledge needs to be treated as an intellectual property or a marketable product and it has to be strategically sold. The R&D organization must not only invent but market it too.
Thursday, August 21, 2008
Thursday, August 14, 2008
Marketing : The changed paradigm
In the words of Philip Kotler, the Marketing Guru, ‘Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.’ Now let us post mortem the concept keeping in mind the modern products/ services….say Bachhna Aay Haseeno starring the most wanted bachelor of Bollywood- Ranvir Kapoor, sizzling Deepika, sultry Minisha and of course the bong bombshell Bipasha; every now and then we log on to any TV channel, or surf the pages of print media we see the 3+1 “selling their product”, trying to reach their target audience which is offered to us on the 61st Independence Day of the nation. In fact, this has become a practice…any Bollywood blockbuster ready for release, we find the filmy celebs, taking advantage of their status pull crowds not only to the multiplexes, but also in reality shows/news channels and also by visiting the shopping carnivals taking place very frequently in malls. Well… B2B marketing, you know. We may refer SRK’s efforts to promote OSO during a cricket match, which later helped him to land on certain controversy. Flaunting emotional tie ups/ break offs are the promotional strategy, these days. Well that’s modern marketing and the marketing communication tactics…oops (the social and managerial process to satisfy needs and wants of the viewers / readers, i.e., the target audience) these days. Even the ruling UPA Govt have hired a private agency to promote their party, highlighting their (USPs) i.e. activities performed in the recent past. Well …we can say that a beginning of the political marketing has taken place. Earlier too, if we remember the previous election campaigns, BJP and their counterparts had benefited immensely from the celebrity appeal at least to gather crowd, if not impinge on the ultimate output These days it is no more the monopoly of the FMCGs / Electronics / Apparels to draw on the celeb appeal to bring to light their USPs, occupy the media space and create value in the mindset of the prospective customers in order to earn desirable brand position.The stage is set for the non conventional products/services to parade in the ground of marketing-creating value in the minds of prospective customers, be it the audience or the voters, exhibiting their flamboyant traits.
Lets wait and watch what more MARKETING has in store for us.
Lets wait and watch what more MARKETING has in store for us.
Sunday, August 10, 2008
Health Tourism: India Marching Ahead
Health tourism can be broadly defined as provision of 'cost effective' private medical care in collaboration with the tourism industry for patients needing surgical and other forms of specialized treatment. This process is being facilitated by the corporate sector involved in medical care as well as the tourism industry - both private and public. It is a developing concept whereby patients travel from one country to another country for medical treatment in order to save costs, or get treatment faster or even to avail of better medical facilities. It has become a common form of vacationing, and covers a broad spectrum of medical services. It mixes leisure, fun and relaxation together with wellness and healthcare. People desirous of seeking such treatments need to contact either the medical centers of such countries or the travel agencies who work in conjunction with some medical centers to provide healthcare tourism services. Among the various healthcare tourism destinations, India, Singapore and Thailand have emerged as most the popular ones. With cutting edge technology in the health care sector at disposal, India now has the wherewithal to offer comprehensive medical solutions to the world and is poised to become the preferred global healthcare destination. The Apollo Group, Escorts Hospitals in New Delhi and Jaslok Hospital in Mumbai are to name a few which are established names even abroad. Corporate hospitals such as Global Hospitals, CARE and Dr L.V. Prasad Eye Hospitals in Hyderabad, The Hindujas and NM Excellence in Mumbai, also have built capabilities and are handling a steadily increasing flow of foreign patients. In fact, India has much more expertise than Thailand or Malaysia. India's healthcare industry is growing at 30 per cent annually and the Apollo group alone has so far treated 95,000 international patients, many of whom are of Indian origin. If estimates are to be believed at, the medical tourism industry will be worth US $2 billion by 2012. India is providing “first-class service at a third-world price”, citing the low death rate for coronary bypass operations as evidence of quality healthcare. The immense potential of the industry has resulted in more healthcare investments in such countries offering the service. The Indian government is leaving no stones unturned to make it a global healthcare destination. The government is offering one-year medical service visa as an incentive to international patients who come to India for treatments and plans to collaborate with private sector to promote “Internationally Competitive” doctors and make India the medical service center for the world.
Undoubtedly the medical tourism industry in India has had a brilliant run in the past and is expected to maintain the momentum, but the market of health tourism still lies highly unveiled and is still in a very nascent stage. Apart from countries like Argentina, Brazil, South Africa, etc who are offering their services, some of the Asian countries like Thailand, Singapore, Philippines are all big players in the market. India however has some distinct advantages which guarantees preference above many of its’ competitors in the continent. Prospective consumers are still not very clear on what exactly is on offer and at which destinations. Efficient marketing techniques and awareness can create a favorable environment for the medical tourism sector and provide an opportunity to avail superior quality medical treatments at fair rates.
Undoubtedly the medical tourism industry in India has had a brilliant run in the past and is expected to maintain the momentum, but the market of health tourism still lies highly unveiled and is still in a very nascent stage. Apart from countries like Argentina, Brazil, South Africa, etc who are offering their services, some of the Asian countries like Thailand, Singapore, Philippines are all big players in the market. India however has some distinct advantages which guarantees preference above many of its’ competitors in the continent. Prospective consumers are still not very clear on what exactly is on offer and at which destinations. Efficient marketing techniques and awareness can create a favorable environment for the medical tourism sector and provide an opportunity to avail superior quality medical treatments at fair rates.
Sunday, August 3, 2008
Papa my best friend…
First Sunday of the eight month of our calendar is celebrated as the friendship day…people all around exchange SMSes wishing their buddies all the beautiful thoughts that might have thumped their mind. Well for me, my papa is my best friend…thank u papa for being there always for me…probably you are the only one who understand me so well. Always you stood beside me, whenever I laughed you enjoyed with me, on my sorrows, you shared my woes… you were there to guide me always…even now when the world shirks me, you are there to shore me up…. Wish you a very Happy Friendship Day!!!
Thursday, July 31, 2008
The terror strikes again…..
The beautiful soil of our motherland is under the clench of terrorist attack once again.... As the nation gears up to celebrate the 51st Independence Day, the innocent populace are shaken by the horrid and grisly act of these terrorists. The general public are so tensed, every time they step out of their house there is a nervousness whether they / their kith and kin shall be returning back home safe. Every now and then there is a threat call or an e-mail by the self styled jehadis to blow out the nation. Grapevine persists in every circle, be it in office, metro stations, college canteens; some of the fellow citizens even go to the extent saying that the acts performed by the terrorists are only the curtain raiser. We are yet to face the worst. The citizens of independent India are under tremendous fear, it seems we have lost the freedom of movement. I want to ask my readers ( if any) is this the result of the sacrifice done by Mahatma Gandhi, Shaheed Bhagat Singh or Netaji Subhas Chandra Bose? Is this what was dreamt by our freedom fighters? If this is the state of condition of independent India after a few decade, where our political leaders in order to serve their vested interest take resort from these ‘jehadis,’ what impression are we giving to our next generation?
Saturday, July 19, 2008
Consumer Behaviour & Decision Making Process
India’s way is not Europe’s. India is not Calcutta or Bombay. India lives in her seven hundred thousand villages. (Mahatma Gandhi, 1926.)
Every business activity begins with an attempt to understand the consumer. What are the consumers’ desires and requirements? How do they behave in the market place while they seek to fulfill their desires? How the firm can develop and create need satisfying products to generate the greatest consumer satisfaction as well as corporate return? With urban markets being saturated for several category of consumer goods and with rising rural incomes, marketing executives are fanning out and discovering the strengths of the large rural markets as they try to enlarge their markets. Today the idea has grown of its infancy and dominates discussions in any corporate boardroom strategy session. Adi Godrej, Chairman of the Godrej Group, unhesitatingly proclaimed, “It is a myth that rural consumers are not brand and quality conscious.” Since the liberalization and growth of Indian economy in early 1990s, the Indian rural consumers are witnessing an increasing exposure to new domestic and foreign products. In fact, it is larger than the urban market for both FMCGs (53% share of the total market) and durable (59%). Today large number of businesses are diversifying their focus on rural market while aligning their strategies to meet the demands of the high volume customers there. India's rural majority today accounts for more than US$100 billion in consumer spending, making them by far the biggest buyers in the country and contributing significantly to India's gross domestic product. However, despite enhanced socio-economic status of the rural community, the rural penetration rates are low, due to lack of strong business system infrastructure, high cost and geographical notabilities, thus offering tremendous potential for growth. It is rightly observed by C. K. PRAHLAD, THE MANAGEMENT GURU, “Selling to the poor may be more profitable than selling to you and me. This is where the future is. Opportunities are every where. The digital divide is not about lack of opportunity, it is about the lack of imagination.” Success in rural marketing calls for a sound network and a thorough understanding of the rural psyche. (Godrej black hair dyes were used on buffaloes in Raichur so as to give them a presentable look in the village haats.)
From the age of “Buyer Beware” the Indian consumer is progressively moving into the concept of “ Seller Beware”. This is also true for the rural consumers as compared to their urban counterpart who are exposed more to all the information at the click of the mouse. A rural consumer may be illiterate but he is intelligent and very conscious of value for money and expects good value in return. In recent times, Indian consumers are at a point where there is multiplicative effect of income growth, aspiration to consume and changed consumption friendly ideology, particularly in rural India. The buying behaviour of rural consumers are of special interest these days to the marketing analyst because rural India is zealously consuming everything from toothpowder to motor cycles. The purchase decisions in Indian homes have become a collective process with women and teenagers playing the vital role on product and brand choices. It is the joint process in the family where woman being the initiator, man the financier and child the influencer. To understand rural buying behaviour a marketer must comprehend the factors that influence buying behaviour and the variations present in behaviour. The behaviour variations that are unique to rural markets are influenced by the place of purchase and occupation and sometimes get reflected in the creative application or use of products. They exhibit different purchase behaviour as compared to their urban counterpart. Thus the understanding of rural consumer purchase behaviour is a must for the marketers in tapping the large latent rural markets.
(Full paper published by IIM Kozhikode, April 2008)
Every business activity begins with an attempt to understand the consumer. What are the consumers’ desires and requirements? How do they behave in the market place while they seek to fulfill their desires? How the firm can develop and create need satisfying products to generate the greatest consumer satisfaction as well as corporate return? With urban markets being saturated for several category of consumer goods and with rising rural incomes, marketing executives are fanning out and discovering the strengths of the large rural markets as they try to enlarge their markets. Today the idea has grown of its infancy and dominates discussions in any corporate boardroom strategy session. Adi Godrej, Chairman of the Godrej Group, unhesitatingly proclaimed, “It is a myth that rural consumers are not brand and quality conscious.” Since the liberalization and growth of Indian economy in early 1990s, the Indian rural consumers are witnessing an increasing exposure to new domestic and foreign products. In fact, it is larger than the urban market for both FMCGs (53% share of the total market) and durable (59%). Today large number of businesses are diversifying their focus on rural market while aligning their strategies to meet the demands of the high volume customers there. India's rural majority today accounts for more than US$100 billion in consumer spending, making them by far the biggest buyers in the country and contributing significantly to India's gross domestic product. However, despite enhanced socio-economic status of the rural community, the rural penetration rates are low, due to lack of strong business system infrastructure, high cost and geographical notabilities, thus offering tremendous potential for growth. It is rightly observed by C. K. PRAHLAD, THE MANAGEMENT GURU, “Selling to the poor may be more profitable than selling to you and me. This is where the future is. Opportunities are every where. The digital divide is not about lack of opportunity, it is about the lack of imagination.” Success in rural marketing calls for a sound network and a thorough understanding of the rural psyche. (Godrej black hair dyes were used on buffaloes in Raichur so as to give them a presentable look in the village haats.)
From the age of “Buyer Beware” the Indian consumer is progressively moving into the concept of “ Seller Beware”. This is also true for the rural consumers as compared to their urban counterpart who are exposed more to all the information at the click of the mouse. A rural consumer may be illiterate but he is intelligent and very conscious of value for money and expects good value in return. In recent times, Indian consumers are at a point where there is multiplicative effect of income growth, aspiration to consume and changed consumption friendly ideology, particularly in rural India. The buying behaviour of rural consumers are of special interest these days to the marketing analyst because rural India is zealously consuming everything from toothpowder to motor cycles. The purchase decisions in Indian homes have become a collective process with women and teenagers playing the vital role on product and brand choices. It is the joint process in the family where woman being the initiator, man the financier and child the influencer. To understand rural buying behaviour a marketer must comprehend the factors that influence buying behaviour and the variations present in behaviour. The behaviour variations that are unique to rural markets are influenced by the place of purchase and occupation and sometimes get reflected in the creative application or use of products. They exhibit different purchase behaviour as compared to their urban counterpart. Thus the understanding of rural consumer purchase behaviour is a must for the marketers in tapping the large latent rural markets.
(Full paper published by IIM Kozhikode, April 2008)
Sunday, July 13, 2008
India Inc: Branding Strategies
Branding involves a gamut of activities the sum total of which lead to the creation of the brand. A successful brand has high awareness, depicts a desirable and unique image, gets easy recognition and is highly trusted by customers. A brand derives strength from its experience with its customers. The most important strategic decision facing the marketing manager during launch of a new product is in choosing not just appropriate brand name, but to select a good set of identities. (Robertson, 1987). A brand identity is an outward expression that includes the name and visual appearance. It originates from the company that is responsible for creating a differentiated product with unique features. We can cite the case of the cola giant- Coca Cola that has been able to maintain its strong presence in the soft drink market because the trade marks Coke and Coca Cola denote values that go beyond mere physical attributes and product labeling. For the communication strategy to be successful, companies have used strong brand identity as foundation with differentiated products that have high awareness and a good image perception in the minds of the consumer. The marketing mix strategy also plays an important role in establishing a brand identity. For example the tangible attributes that comprise the product will send a message to the consumer about the important features of a brand. However with time the functions, or the essence of brand has changed. Today it is what they do for people that matters more, how they reflect and engage them, how they define their aspiration and enable them to do more. The objective of brand has become more of emotional and psychological than that of mere recognition and differentiation for which the concept of brand came into existence. Powerful brands can drive success in competitive and financial markets, and indeed become the organization's most valuable assets. Marketers engaged in branding seek to develop or align the expectations behind the brand's experience, creating the impression that a brand associated with a product or service has certain qualities or characteristics that make it special or unique.
India is a country which is witnessing robust growth and a booming economy. The growth in the country is happening at a steady rate as foreign funds flow to fund infrastructure and consumer markets that seek to tap the domains in an extensive manner. The opening up of the Indian economy has given a level playing field for foreign brands against Indian brands. Several MNCs have begun to focus their attention on Indian markets. Global brands are threatening the existence of Indian brands which have strong presence in the minds of the customers all round the globe and have performed consistently for a long time. Customers buy brand not only for the intrinsic values associated with it but also because the brand has surprised them in the past with newer and more novel experiences. Branding is a promise made to the customer that will deliver values beyond expectation. Branding strategy hence should also involve continuously communicating to the customer of the novel experiences that he/she has had with the brand.
The film Love Story 2050 which exhibits the sky rails and ultra-high rises of an almost star-wars-ish Mumbai--has been created by Sun Microsystems. The SUN brand appears in the film through some innovative in-film placements, hoping to reach out to millions and help create a positive disposition towards their brand alongside the glamourous Priyanka Chopra and the newbie Harman Baweja.
So, how do the dynamics change with the change of settings ? Should the biggest democracy in the world go for branding? US see India as a resource for intellectual capital. Some of the Asian and Arabian countries consider India as a place for quality medical services at affordable prices. Koreans look at India as their market place for selling consumer durable and some of the European countries view India as one of the important tourist destinations in the World. Different countries look at India in different approach but every one is optimistic. Therefore even a country like India has to go for her own branding.
(Full paper presented in a National Conference in India Habitat Centre, New Delhi, February 2008)
India is a country which is witnessing robust growth and a booming economy. The growth in the country is happening at a steady rate as foreign funds flow to fund infrastructure and consumer markets that seek to tap the domains in an extensive manner. The opening up of the Indian economy has given a level playing field for foreign brands against Indian brands. Several MNCs have begun to focus their attention on Indian markets. Global brands are threatening the existence of Indian brands which have strong presence in the minds of the customers all round the globe and have performed consistently for a long time. Customers buy brand not only for the intrinsic values associated with it but also because the brand has surprised them in the past with newer and more novel experiences. Branding is a promise made to the customer that will deliver values beyond expectation. Branding strategy hence should also involve continuously communicating to the customer of the novel experiences that he/she has had with the brand.
The film Love Story 2050 which exhibits the sky rails and ultra-high rises of an almost star-wars-ish Mumbai--has been created by Sun Microsystems. The SUN brand appears in the film through some innovative in-film placements, hoping to reach out to millions and help create a positive disposition towards their brand alongside the glamourous Priyanka Chopra and the newbie Harman Baweja.
So, how do the dynamics change with the change of settings ? Should the biggest democracy in the world go for branding? US see India as a resource for intellectual capital. Some of the Asian and Arabian countries consider India as a place for quality medical services at affordable prices. Koreans look at India as their market place for selling consumer durable and some of the European countries view India as one of the important tourist destinations in the World. Different countries look at India in different approach but every one is optimistic. Therefore even a country like India has to go for her own branding.
(Full paper presented in a National Conference in India Habitat Centre, New Delhi, February 2008)
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